The purpose of this research was to examine what motivates and influences an individual to invest in a project or company through equity-based crowdfunding. The intention was therefore to identify internal and external motivation factors and examine how external social factors such as the Internet, other individuals’ investment decisions and interaction in social groups affect an individual when he or she invests through equity-based crowdfunding. The results showed that both internal and external motivation factors are important components of an investment through equity-based crowdfunding. External motivators proved to be for example yields and helping entrepreneurs. The study showed that the internal motivators that drive an individual to invest through equity-based crowdfunding include the sense of excitement, pleasure and that the investment coincides with the own interests. The study also showed that the Internet primarily affect investors through an unrestricted flow of information and access to a social interaction. Even other individuals' investments, as an external social factor, were shown to have an impact on the study's respondents when they invest through equity-based crowdfunding. In addition, the study showed that the interaction in a close circle of friends can influence individuals in their investment decisions through equity-based crowdfunding.